Page 7 - Kings Point Property Owners Association - 2012 By-Laws

Section 4. Special Appointments. The Board may elect such other officers as the affairs
of the Association may require, each of whom shall hold office for such period, have such
authority, and perform such duties as the Board may, from time to time, determine.

Section 5. Resignation and Removal. An officer may be removed from office with or
without cause by the Board. An officer may resign at any time by giving written notice to the
Board, the president or the secretary. Such resignation shall take effect on the date of receipt of
such notice or at any later time specified therein, and unless otherwise specified therein, the
acceptance of such resignation shall not be necessary to make it effective.

Section 6. Vacancies. A vacancy in any office may be filled by appointment by the
Board. The officer appointed to such vacancy shall serve for the remainder of the term of the
officer he or she replaces.

Section 7. Multiple Offices. The offices of secretary and treasurer may be held by the
same person. No person will simultaneously hold more than one of any of the other offices,
except in the case of special offices created pursuant to Section 4 of this Article.

Section 8. Duties. The duties of the officers are as follows:

President

(a) The President shall preside at all meetings of the Board of Directors; shall see that
orders and resolutions of the Board are carried out; shall sign all leases, mortgages, deeds and
other written instruments and shall co-sign all checks in excess of $500.00 and all promissory
notes.

Vice-President

(b) The Vice-President shall act in the place and stead of the President in the event of his
or her absence, inability, or refusal to act, and shall exercise and discharge such other duties as
may be required of him or her by the Board.

Secretary

(c) The Secretary shall record the votes and keep the minutes of all meetings and
proceedings of the Board and of the members; keep the corporate seal of the Association and
affIX it on all papers requiring said seal; serve notice of meetings of the Board and of the
members; keep appropriate current records showing the members of the Association together
with their addresses, and shall perform such other duties as required by the Board or by law.

Treasurer

(d) The Treasurer shall receive and deposit in appropriate bank accounts all funds of the
Association and shall disburse such funds as directed by resolution of the Board of Directors;
shall sign all checks and promissory notes of the Association; shall keep proper books of
account; shall cause an annual audit of the association books to be made by a certified public

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